There is a growing expectation that Harland and Wolff's holding company will soon be placed into administration.
There is a growing expectation that Harland and Wolff's holding company will soon be placed into administration.Shipbuilding is a capital-intensive business which means you need to spend a lot of money before you can start to make money.
It ended up being dependent on a hard-nosed US lender while waiting for government support that never materialised. It raised £6m from shareholders to help complete the deal and later tapped shareholders for more money but the sums raised were not equal to the firm’s ambition. The then Northern Ireland Secretary, Chris Heaton-Harris, said it was a "fantastic testimony to Belfast's shipbuilding heritage and reputation for innovation and expertise".
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